Mouteki Demark indicator
draws sell and buy signals on candles highs and lows. Together with an automatic trend line and take profit drawing features, Mouteki Demark indicator is an "all-rounder". The indicator works best on an hourly time-frame. Furthermore, signal analysis could be made on a higher time-frame and traded on one or two time-frames lower chart.
Mouteki Demark indicator on EURUSD hourly time-frame
showBars=200; Number of used candles,
showBars= 0 will use candlesticks from the beginning.
LevDP=2; The central bar will be higher or lower than the number of bars on the left and right side. In short, controls the sensitivity and frequency of provided signals.
qSteps=1; Number of additional trend lines and take profit levels, the limit is 3.
BackStep=0; Number of steps back from the current candlestick.
startBar=0; Imput of 0 will have recommendation for the current bar, 1 - for possible next bar.
TrendLine=true; To automatically draw trend lines.
HorizontLine=true; Shows break levels.
ChannelLine=false; Forms channels in parallel to the trend lines
TakeLines=true; Draws take profit levels.
Comments=true; Show te comments on the upper left side.
Trend=0; Show signals for 1 = Up Trend, -1 = Down Trend, 0 = Both.
How to install your indicator on MT4 platform:
1. Click on Download button above;
2. Save the the file to your computer;
3. Move the .mt4 file into the following folder : meta traderexpertsindicators;
4. Restart your Metatrader platform;
5. Click “Indicators” button in Metatrader toolbar;
6. Select “Custom”;
7. Search and select “Mouteki Demark”;
8. Adjust settings or press OK to add the indicator to your selected chart;
Mouteki Demark indicator was sent by an AtoZForex follower from Russia, Dmitri. AtoZForex does not carry any copyrights over this trading tool.
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